The channel is a crazy project planned for Istanbul. In this project, it is aimed to give Istanbul a new throat. It was announced by President Recep Tayyip Erdogan in 2011. The Canal Istanbul project is expected to start this year. Thanks to this project, the passage of ships in Istanbul's bosphorus will be relaxed. Thanks to the facilitated ship transits, Istanbul's strait will have a quieter trafficking. Channel Istanbul is expected to have a length of 45 kilometers. It has been revealed which 45-kilometer channel will pass. These are Avcılar, Başakşehir, Küçükçekmece and Arnavutköy districts, respectively. The largest share will belong to the Arnavutköy district. From Arnavutköy, Canal Istanbul will pass 28 kilometers. It will be a passage of 3-7 kilometers from other districts.
Are the Real Estate in the Provinces Affected by This Situation?
It is a fact that the real estate prices will increase in these mentioned districts. When the project is completed, it is expected that the places in these areas will be further evaluated. After the announcement of the Canal Istanbul project route, these provinces began to be valued.
What is the situation in Arnavutköy?
The price per square meter in Arnavutköy was determined to be 2250 TL. With these prices, an average price can be determined by going out. A price of 200-250 thousand Turkish Liras can be determined. Monthly rent can be determined as 800 TL and the return period of the housing investment is 25 years.
The square meter sale price in the district is 2,900 TL, the average house price is 310 thousand TL, the average rent is 1,400 TL and the return period of the housing investment is 19 years.
The channel is a district of Istanbul. The prices have increased even more in this district. The average square meter sale price in the district is 3 thousand 300 TL, the average rent is 1,525 TL and the return period of the housing investment is 24 years.
The situation is the same in this district. Canal Istanbul also affected this district. The value increase in Avcılar has been 40 percent in the last 5 years. The average residential square meter sales price in the district is 2,500 TL, the average residence prices are 296 thousand TL, the average monthly rent values are 1,285 TL and the return period of the residence investment is 20 years.